- Euler Finance demands hackers return 90% of stolen funds or face legal consequences
- Euler Finance enlists the support of blockchain intelligence platforms and the Ethereum community in search of hackers
- Euler Finance took prompt action to stop the attack and is determined to recover stolen funds.
Non-custodial lending platform, Euler Finance, has issued an ultimatum to the hacker who exploited the platform for $196 million. The platform has demanded that the attacker returns 90% of the stolen funds within 24 hours or face legal consequences. Euler Finance is already working with law enforcement in the United States and the United Kingdom to help track down the hacker.
To aid in the search for the hacker, Euler Finance has enlisted the support of blockchain intelligence platforms, such as Chainalysis and TRM Labs, as well as the Ethereum community. The lending platform has also offered a substantial $1M reward to anyone who provides information that leads to the arrest of the attacker and the return of the stolen funds.
Euler Finance was able to promptly stop the flash loan attack by blocking deposits and the “vulnerable” donation function. The exploited code was not discovered in the audit of its smart contract, which had been on-chain for eight months until the attack occurred on March 13.
The non-custodial lending platform is taking this attack seriously and is doing everything in its power to recover the stolen funds. Euler Finance is determined to catch the hacker and is offering a substantial reward for information leading to the arrest of the attacker and the return of the stolen funds.
In other news, Binance has cited compliance with EU sanctions as the reason for banning Russians from accessing US dollars and euros. However, it’s unclear why the exchange implemented the ban only recently.
